Consumer Spending Habits

Consumer spending habits are changing as the rising cost of living has become a growing concern for many individuals and families worldwide. As prices continue to increase, people are forced to reassess their spending habits to accommodate these changes.

For this month’s pool we took to the streets of London and spoke with a range of people to try and gain a better understanding of people’s shopping habits and whether people are still willing to pay for subscription services even with rising prices.

“Discount supermarkets, such as Lidl and Aldi were frequently mentioned as the popular choices”

Discount supermarkets, such as Lidl and Aldi were frequently mentioned as the popular choices. Known for their competitive prices and value for money, these stores have gained popularity among those seeking affordable options without compromising quality. While discount supermarkets were commonly mentioned, people have diverse shopping preferences with some favouring stores like Sainsbury’s, Waitrose, Marks & Spencer, Asda and Morrisons for their unique offerings and shopping experience.

In addition to altering their shopping habits, individuals are also reconsidering their subscription services to cope with the rising cost of living. Music streaming platforms, such as Spotify, Apple Music and Google Play Music have become an integral part of people’s lives. Many people also find solace in the world of movies and television shows. Subscription-based streaming services like Netflix, Disney+ offer a variety of content. These services provide a sense of enjoyment, distraction and relaxation during challenging times.

As we navigate the ever-changing economic landscape, it is crucial to stay mindful of our spendings habits and seek cost-effective alternatives that align with our needs and preferences.

Written By
Olivia Jarvis
Video Producer

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